Rumors Spark Reactions in Cryptocurrency Community: Musk Weighs In on Possible Pardon for FTX Founder
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‘I’ll be shocked IF…’ – Elon Musk reacts to Biden pardoning FTX Founder rumours
Elon Musk, the CEO of Tesla and SpaceX, has weighed in on the recent rumors surrounding a potential presidential pardon for Sam Bankman-Fried, the disgraced former CEO of the now-defunct cryptocurrency exchange, FTX. In his statement, Musk expressed surprise at the possibility, saying “I’ll be shocked if this doesn’t happen.”
The comments from Musk came after a post by Wall Street Mav on X, which sparked a wave of reactions within the crypto community. The post featured an image of Bankman-Fried alongside President Joe Biden, highlighting the latter’s role as the second-largest donor to the Democratic Party.
Musk’s reaction has led to an 8% surge in Polymarket odds of a pardon happening, rising from 4% to 12%. However, the latest update saw a decline, with the odds currently standing at 7%. The fluctuation highlights the uncertainty surrounding the rumors and leaves the outcome of SBF’s fate open to speculation.
The FTX founder is facing legal action for his role in the exchange’s collapse, which led to massive financial losses for thousands of investors. Despite this, there are concerns that Bankman-Fried may avoid a harsh sentence due to his political connections.
Bankman-Fried’s legal team has been actively seeking a reduced sentence, while the U.S. government is pushing for a 40-50 year prison term.
Source: ambcrypto.com
